Yet Another Inspector General Bites the Dust

Glenn Fine in a 2007 file photo.Mark Murrmann/ZUMA

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.

Large corporations were the recipients of $500 billion in the coronavirus rescue bill. However, only about $50 billion of this is for actual loans. The other $450 billion comes in the form of loan guarantees: that is, it’s a capital cushion earmarked to pay for potential losses in lending facilities from the Fed. Roughly speaking, then, the bill really authorizes about $4.5 trillion in loans under the assumption that $450 billion represents the maximum loss the Fed is likely to suffer.

By any measure, $4.5 trillion is a whole lot of money, and it was the last sticking point in the rescue bill. Initially Trump said that he himself would provide all the oversight that was needed, but unsurprisingly that didn’t go down well with Democrats. The bill was passed only after Donald Trump finally agreed to appoint a special inspector in the Treasury Department to provide oversight. But as soon as the ink was dry, he appointed Brian Miller, a White House lawyer, for the job. This was not an auspicious start.

Now there’s more:

President Donald Trump has upended the panel of federal watchdogs overseeing implementation of the $2 trillion coronavirus law, tapping a replacement for the Pentagon official who was supposed to lead the effort. A panel of inspectors general had named Glenn Fine — the acting Pentagon watchdog — to lead the group charged with monitoring the coronavirus relief effort. But Trump on Monday removed Fine from his post, instead naming the EPA inspector general to serve as the temporary Pentagon watchdog in addition to his other responsibilities.

At least we still have the House oversight committee, formed by Nancy Pelosi and headed by Jim Clyburn. Unless, of course, Trump simply refuses to allow anyone in his admistration to respond to its subpoenas. But he wouldn’t do that, would he?

DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate